Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by the Bank or assigned by the Bank to third parties, then any payment on any such asset received from or on behalf of such Obligor shall, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall be allocated by the Bank in accordance with its customary standards, policies and procedures.
Appears in 24 contracts
Samples: Sale and Servicing Agreement (Usaa Acceptance LLC), Sale and Servicing Agreement (USAA Auto Owner Trust 2007-2), Sale and Servicing Agreement (USAA Auto Owner Trust 2007-1)
Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by the Bank Servicer or assigned by the Bank to a third partiesparty, then any payment on any such asset received from or on behalf of such Obligor shallwill, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall will be allocated by the Bank Servicer in accordance with its customary standards, policies and proceduresCustomary Servicing Practices.
Appears in 6 contracts
Samples: Servicing Agreement (Bank of America Auto Receivables Securitization, LLC), Servicing Agreement (Bank of America Auto Trust 2012-1), Servicing Agreement (Bank of America Auto Trust 2012-1)
Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by the Bank or assigned by the Bank to third partiesReceivables, then any payment on any such asset received from or on behalf of such Obligor shallwill, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall will be allocated by the Bank Servicer in accordance with its customary standards, policies and procedurespolicies.
Appears in 2 contracts
Samples: Servicing Agreement (Merrill Auto Trust Securitization 2008-1), Servicing Agreement (Merrill Auto Trust Securitization 2007-1)
Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by the Bank Issuer or assigned by the Bank to a third partiesparty, then any payment on any such asset received from or on behalf of such Obligor shallwill, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall will be allocated by the Bank Master Servicer or the Receivables Servicer in accordance with its customary standards, policies and proceduresCustomary Servicing Practices.
Appears in 1 contract
Samples: Master Servicing Agreement (Banc of America Securities Auto Trust 2006-G1)
Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by the Bank Seller or assigned by the Bank Seller to third parties, then any payment on any such asset received from or on behalf of such Obligor shallwill, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall will be allocated by the Bank Servicer in accordance with its customary standards, policies and procedures.
Appears in 1 contract
Samples: Servicing Agreement (Banc of America Securities Auto Trust 2005-Wf1)
Allocations of Collections. If an Obligor is obligated under one or more Receivables and also under one or more other assets owned by the Bank [ ] or assigned by the Bank [ ] to third parties, then any payment on any such asset received from or on behalf of such Obligor shall, if identified as being made with respect to a particular item or asset, be applied to such item, and otherwise shall be allocated by the Bank [ ] in accordance with its customary standards, policies and procedures.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Funding Inc)
